AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 126.92 Decreased By ▼ -0.12 (-0.09%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.45 Decreased By ▼ -0.06 (-1.33%)
DCL 8.60 Increased By ▲ 0.05 (0.58%)
DFML 41.70 Increased By ▲ 0.26 (0.63%)
DGKC 86.91 Increased By ▲ 0.06 (0.07%)
FCCL 32.20 Decreased By ▼ -0.08 (-0.25%)
FFBL 64.88 Increased By ▲ 0.08 (0.12%)
FFL 10.16 Decreased By ▼ -0.09 (-0.88%)
HUBC 109.35 Decreased By ▼ -0.22 (-0.2%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.14 Increased By ▲ 0.09 (1.78%)
KOSM 7.43 Decreased By ▼ -0.03 (-0.4%)
MLCF 41.23 Decreased By ▼ -0.15 (-0.36%)
NBP 59.94 Decreased By ▼ -0.47 (-0.78%)
OGDC 194.70 Increased By ▲ 4.60 (2.42%)
PAEL 28.30 Increased By ▲ 0.47 (1.69%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.15 Increased By ▲ 1.09 (0.73%)
PRL 26.41 Decreased By ▼ -0.47 (-1.75%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 78.40 Decreased By ▼ -7.60 (-8.84%)
TELE 7.47 Decreased By ▼ -0.24 (-3.11%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.25 Increased By ▲ 0.13 (1.6%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.68 Decreased By ▼ -0.61 (-1.14%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,941 Increased By 57.1 (0.58%)
BR30 30,870 Increased By 270.4 (0.88%)
KSE100 93,884 Increased By 528.4 (0.57%)
KSE30 29,080 Increased By 149.4 (0.52%)

New Zealand's robust economy may experience a more moderate slowdown in the second half of the year than initially forecast, helped by strong world prices for commodity exports, the Treasury said on Monday.
In its economic indicators report for July, the Treasury said the level of economic activity over the first half of 2004 would be stronger than forecast after gross domestic product grew by 2.3 percent in the first quarter.
The rate of quarterly growth was still expected to slow over the year ahead, it said in the report on its website (www.treasury.govt.nz).
"However, there may be sufficient momentum in the domestic economy, coupled with a slightly stronger performance by the external sector, to suggest that the slowdown in the second half of 2004 may be more moderate than initially forecast," it said.
"A major factor contributing to this is the strength of world prices of New Zealand's commodity exports, while the high level of consumer confidence and improving business confidence are also positive for future growth prospects."
The Treasury has forecast gross domestic product to be 2.8 percent higher in the year to March 2005, falling to 2.5 percent the year after, before rising to 3.4 percent in 2007.
New Zealand's economy, one of the world's fastest growing in the past three years, has so far defied expectations that a strong currency, falling migrant numbers and higher interest rates would slow growth.

Copyright Reuters, 2004

Comments

Comments are closed.